State Street Corp Trims Stake in Tompkins Financial Co. (NYSEAMERICAN:TMP)

State Street Corp cut its stake in Tompkins Financial Co. (NYSEAMERICAN:TMP - Free Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,297,848 shares of the financial services provider's stock after selling 25,787 shares during the period. State Street Corp owned 9.02% of Tompkins Financial worth $75,003,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Centiva Capital LP purchased a new stake in shares of Tompkins Financial in the 3rd quarter worth about $299,000. BNP Paribas Financial Markets grew its stake in shares of Tompkins Financial by 39.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider's stock worth $420,000 after buying an additional 2,073 shares during the last quarter. FMR LLC raised its stake in Tompkins Financial by 14.3% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock valued at $100,000 after buying an additional 216 shares during the last quarter. Alesco Advisors LLC bought a new stake in Tompkins Financial in the third quarter worth $219,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Tompkins Financial in the third quarter worth $215,000. 69.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Tompkins Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $59.00 to $68.00 in a report on Wednesday, October 2nd.

Tompkins Financial Trading Down 6.6 %

Shares of Tompkins Financial stock traded down $4.87 on Wednesday, hitting $68.77. 79,059 shares of the company traded hands, compared to its average volume of 59,561. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92. Tompkins Financial Co. has a 52 week low of $43.09 and a 52 week high of $79.01. The stock has a market cap of $989.60 million, a P/E ratio of 14.85 and a beta of 0.72.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.09. Tompkins Financial had a return on equity of 9.68% and a net margin of 15.59%. The firm had revenue of $112.51 million for the quarter. During the same period last year, the firm posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.62 dividend. The ex-dividend date was Friday, November 8th. This is an increase from Tompkins Financial's previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.61%. Tompkins Financial's payout ratio is 53.56%.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.